The relationship between internationalisation and firm performance in South Africa: the moderating role of slack resources

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dc.contributor.advisorKew, Jaqueline
dc.contributor.authorSebola, Peter
dc.date.accessioned2026-01-26T11:46:18Z
dc.date.available2026-01-26T11:46:18Z
dc.date.issued2025
dc.date.updated2026-01-26T11:40:26Z
dc.description.abstractFirm internationalisation has emerged as a crucial growth strategy in an increasingly globalised world. As firms strive to expand their operations beyond their home countries, they face several opportunities as well as challenges. While the effects of internationalisation on firm performance have been extensively studied, conclusive findings remain elusive due to a variety of factors. In particular, its specific implication for South African firms remains under-studied. Furthermore, there is a significant gap in the literature regarding how slack resources moderate this relationship. This study aims to analyse the relationship between the degree of internationalisation and firm performance among South African firms. It also examines how absorbed and unabsorbed slack resources influence this relationship. Employing a regression model, this study uses panel data from internationalised South African firms listed on the Johannesburg Stock Exchange between 2010 and 2019, providing a rich long-term dataset for analysis. The results indicate an insignificant relationship between the degree of internationalisation and firm performance, suggesting that increased internationalisation does not impact financial performance. The results also indicate that increasing absorbed and unabsorbed slack resources have an insignificant moderating effect on this relationship. This study contributes to the existing body of knowledge by providing insight into how firm internationalisation relates to performance, while considering the moderating effects of firm-specific factors. Additionally, it enhances the understanding of firm internationalisation in the emerging market context of South Africa. These findings offer practical implications for South African firms aiming to expand internationally, highlighting the importance of strategic resource allocation during internationalisation.
dc.identifier.apacitationSebola, P. (2025). <i>The relationship between internationalisation and firm performance in South Africa: the moderating role of slack resources</i>. (). University of Cape Town ,Faculty of Commerce ,College of Accounting. Retrieved from http://hdl.handle.net/11427/42690en_ZA
dc.identifier.chicagocitationSebola, Peter. <i>"The relationship between internationalisation and firm performance in South Africa: the moderating role of slack resources."</i> ., University of Cape Town ,Faculty of Commerce ,College of Accounting, 2025. http://hdl.handle.net/11427/42690en_ZA
dc.identifier.citationSebola, P. 2025. The relationship between internationalisation and firm performance in South Africa: the moderating role of slack resources. . University of Cape Town ,Faculty of Commerce ,College of Accounting. http://hdl.handle.net/11427/42690en_ZA
dc.identifier.ris TY - Thesis / Dissertation AU - Sebola, Peter AB - Firm internationalisation has emerged as a crucial growth strategy in an increasingly globalised world. As firms strive to expand their operations beyond their home countries, they face several opportunities as well as challenges. While the effects of internationalisation on firm performance have been extensively studied, conclusive findings remain elusive due to a variety of factors. In particular, its specific implication for South African firms remains under-studied. Furthermore, there is a significant gap in the literature regarding how slack resources moderate this relationship. This study aims to analyse the relationship between the degree of internationalisation and firm performance among South African firms. It also examines how absorbed and unabsorbed slack resources influence this relationship. Employing a regression model, this study uses panel data from internationalised South African firms listed on the Johannesburg Stock Exchange between 2010 and 2019, providing a rich long-term dataset for analysis. The results indicate an insignificant relationship between the degree of internationalisation and firm performance, suggesting that increased internationalisation does not impact financial performance. The results also indicate that increasing absorbed and unabsorbed slack resources have an insignificant moderating effect on this relationship. This study contributes to the existing body of knowledge by providing insight into how firm internationalisation relates to performance, while considering the moderating effects of firm-specific factors. Additionally, it enhances the understanding of firm internationalisation in the emerging market context of South Africa. These findings offer practical implications for South African firms aiming to expand internationally, highlighting the importance of strategic resource allocation during internationalisation. DA - 2025 DB - OpenUCT DP - University of Cape Town KW - absorbed KW - emerging market KW - firm performance KW - internationalisation KW - slack resources KW - unabsorbed LK - https://open.uct.ac.za PB - University of Cape Town PY - 2025 T1 - The relationship between internationalisation and firm performance in South Africa: the moderating role of slack resources TI - The relationship between internationalisation and firm performance in South Africa: the moderating role of slack resources UR - http://hdl.handle.net/11427/42690 ER - en_ZA
dc.identifier.urihttp://hdl.handle.net/11427/42690
dc.identifier.vancouvercitationSebola P. The relationship between internationalisation and firm performance in South Africa: the moderating role of slack resources. []. University of Cape Town ,Faculty of Commerce ,College of Accounting, 2025 [cited yyyy month dd]. Available from: http://hdl.handle.net/11427/42690en_ZA
dc.language.isoen
dc.language.rfc3066eng
dc.publisher.departmentCollege of Accounting
dc.publisher.facultyFaculty of Commerce
dc.publisher.institutionUniversity of Cape Town
dc.subjectabsorbed
dc.subjectemerging market
dc.subjectfirm performance
dc.subjectinternationalisation
dc.subjectslack resources
dc.subjectunabsorbed
dc.titleThe relationship between internationalisation and firm performance in South Africa: the moderating role of slack resources
dc.typeThesis / Dissertation
dc.type.qualificationlevelMasters
dc.type.qualificationlevelMCom
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